In a conventional packet switched network such as a Multi-Protocol Label switching (MPLS) network or an IP (Internet Protocol) network, pseudowires (PWs) enable service providers to offer traditional layer-2 services such as Frame Relay, ATM, and Ethernet, among others, over a packet switched core. In doing so, such providers leverage a common MPLS or IP infrastructure for both their (Layer-2) L2 and (Layer-3) L3 services. While this provides both operating and capital expense savings for Service Providers (SPs), it also introduces new challenges in terms of operations and management (O&M/OAM/OA&M) of these new networks. One challenge that hasn't been completely addressed is the O&M toolset that a Service Provider can use to monitor and troubleshoot the pseudowires that carry the aforementioned services over their converged core. Specifically, it is important that a service provider be able to ensure that the Service Level Agreement (SLA) they have with the customer is being meet. Some technologies like Pseudowire Virtual Circuit Connectivity Verification (VCCV) and other MPLS OAM techniques, such as that disclosed in U.S. patent application Ser. No. 11/135,253 filed May 23, 2005, entitled, “SYSTEM AND METHODS FOR PROVIDING A NETWORK PATH VERIFICATION PROTOCOL” is being used to help monitor the health of the pseudowire, but these tools by themselves only provide a periodic analysis of the pseudowire in terms of reachability. Exemplary references of such usage include the following: U.S. patent application Ser. No. 11/001,149 filed Dec. 1, 2004, entitled, “SYSTEM AND METHODS FOR DETECTING NETWORK FAILURE”, U.S. patent application Ser. No. 11/086,007 filed Mar. 22, 2005, entitled, “SYSTEM AND METHODS FOR IDENTIFYING NETWORK PATH PERFORMANCE”, U.S. patent application Ser. No. 11/072,082 filed Mar. 4, 2005, entitled, “SYSTEM AND METHODS FOR NETWORK REACHABILITY DETECTION”, and U.S. patent application Ser. No. 11/091,058 filed Mar. 28, 2005, entitled, “METHOD AND APPARATUS FOR THE CREATION AND MAINTENANCE OF A SELF-ADJUSTING REPOSITORY OF SERVICE LEVEL DIAGNOSTICS TEST POINTS FOR NETWORK BASED VPNS”. However, these tools may not address the need service providers have to quantify the amount of packet loss for a given pseudowire. In addition to monitoring ongoing packet loss, a tool that could measure packet loss on a pseudowire over a fixed period of time on an ad hoc basis would allow a service provider to troubleshoot customer reported problems as they occur by isolating them to either the provider network or the customer network.